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The Corporate Governance of Australian Listed Construction Companies

Construction Economics and Building

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Field Value
 
Title The Corporate Governance of Australian Listed Construction Companies
 
Creator Tait, Patrick
Loosemore, Martin
 
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Description This paper compares the compliance level of Australian StockExchange (ASX) listed construction and non-constructioncompanies with the ASX Corporate Governance Council (CGC)recommendations on sound corporate governance. It alsoexamines the difference in board characteristics between thetwo groups, paying particular attention to differences in boardindependence. It concludes that compared with the top 20 ASXlisted non-construction companies, listed construction companiesare less compliant overall particularly with regards to boardstructure, and have lower levels of independence both in terms ofCEO/Chairperson duality, the ratio of executive to non-executiveindependent directors and independent membership of nomination,remuneration and audit committees. These conclusions areimportant because sound corporate governance has beenassociated with higher levels of organisational resilience derivedfrom the reputational and fi nancial benefi ts of greater transparency,market value, investor attractiveness and organisationalperformance.
 
Publisher UTS ePRESS
 
Contributor —
 
Date 2012-11-23
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/3017
10.5130/AJCEB.v9i2.3017
 
Source Construction Economics and Building; Vol 9, No 2 (2009): AJCEB; 7-16
2204-9029
 
Language eng
 
Relation http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/3017/3199
 
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Rights Copyright (c) 2009 Patrick Tait, Martin Loosemore
http://creativecommons.org/licenses/by/4.0